Democrats swept the 2026 midterms, but California rejected its wealth tax. Here is why taxing wealth in the U.S. is so hard and what lawmakers could try instead.
Wealth Tax Plans Face Steep Odds Despite Big Democratic Midterm Wins
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Forbes BusinessBy Nathan Goldman, Contributor
EXECUTIVE SUMMARY
Democrats swept the 2026 midterms, but California rejected its wealth tax. Here is why taxing wealth in the U.S. is so hard and what lawmakers could try instead.
Key Takeaways
- Wealth Tax Plans Face Steep Odds Despite Big Democratic Midterm Wins.
- Democrats swept the 2026 midterms, but California rejected its wealth tax.
- Here is why taxing wealth in the U.S.
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Published originally on Forbes Business
